Lupin Lab shares up on US FDA approval for generic cholesterol drug

Jan 01 2014, 12:16 IST
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SummaryNiacin's US sales are $1.2 billion, out of which Lupin can make $30 million in sales annually.

Shares in Lupin gain 1.6 per cent after US Food and Drug Administration (FDA) gave a tentative approval for generic version of cholesterol drug niacin, a form of vitamin B, on Monday.

Analysts tracking the sector say niacin's US sales are $1.2 billion, out of which Lupin can make $30 million in sales annually.

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